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10-23-2006, 10:40 PM

i know that both judgment and bankruptcy are bad on a cr but im just curious to which one is worse..i know ajudgment can be removed in bankruptcy also ,just wondering who is responsible to make sure jugment is removed bk attourney or creditor?

IncredibleHelp · 10-24-2006, 09:46 AM

The bankruptcy attorney will take care that the judgment is removed by your creditor. It is like replacing one negative information with the other. If you don't file for bankruptcy, the judgment will remain in the file for as long as 20 years. If it is discharged in chapter 7 bankruptcy, this negative info will stay for ten years.

Qualifying for new credit will be tough at the initial stage after filing bankruptcy. But if you take care of the new accounts and do timely payments, your credit will improve gradually even after bankruptcy is staying in your file.

10-24-2006, 10:40 AM

Hello

I had a judgement from a storefront payday loan placed on my credit report. If I paid this will they remove this from my report?

IncredibleHelp · 10-24-2006, 12:22 PM

It should be removed automatically after seven years, but even a judgment that's satisfied can't be removed before then. Your credit history - the good and bad - is reported for a period of seven years.

08-15-2008, 10:23 PM

My Husband and I are being sued by several collection agencies. We filed Bankruptcy 8 years ago. So in Ca we cannot file again for two more years. We have had some bad income problems and do not have the money to pay all these debts off. Around 15 thousand. I am starting to crack under the stress and our family is falling apart. We have three children and own nothing. I do not know what to do. I am having a nervous breakdown. I need help, any advice?

08-15-2008, 10:28 PM

I forgot to add, if they garnish his wages being that there are several that are sueing, can they take all of our money? If not how do they decide who can garnish and who can not? Will we be homeless?

m.lm1947 · 08-16-2008, 08:23 AM

Even though several collection agencies are suing you, I'm almost positive that only one garnishment can take place at a time, and I believe that the garnishment amount can only be 25% of your income. Also, I'm not advising you to file bankruptcy, but I thought it was only 8 years had to take place between bankruptcy filings, not 10 years.

alias1958 · 08-16-2008, 01:46 PM

You can receive a Chapter 7 BK discharge eight years after your previous Chapter 7 discharge. It stays on your credit report for ten years, so maybe that is why you are thinking ten years?

And yes, the maximum garnishment amount is 25% of your disposable income (usually your take home pay). So anyone who wins a judgment against you after your wages are already being garnished at the 25% level would have to wait until the first garnishment was satisfied before they would be able to garnish.

alias1958 · 08-16-2008, 01:50 PM

Oh, and I almost forgot . . . If you are being sued, be sure that you appear in court. Otherwise, the creditor will get a default judgment against you. If you go to court and can show the judge your budget, it's possible that he or she may just tell the creditor to work out payment arrangements with you.

08-16-2008, 09:24 PM

"If you go to court and can show the judge your budget, it's possible that he or she may just tell the creditor to work out payment arrangements with you."

You are freaking kidding us, right?

Pray tell, how many such deals has a publicly paid, ethically bound and impartial bench officer cut for you and your legal clients?

ladybug · 08-16-2008, 09:30 PM

No alias is not kidding you, it can happen, my sister just went through this with her garnishment, they were taking 25% of her check and she is head of the household with two children. You can only have one garnishment coming out at once and those have to be renewed every 90 days until the garnishment is settled.

The judge reduced it down to 15% of her check which will help a little. Do not ignore this and make sure that you show up to court or as alias stated they will get a default judgement. The day we went to court only three people showed up for about 25 cases and those were default judgements because they did not appear.

08-16-2008, 10:35 PM

Nonsense.

A garnishment happens after you've already lost, ladybug. The guest poster isn't there yet, she's only been sued. In that context, alias plainly stated that if you show the judge a budget he'll make the creditor accept payment arrangement.

Your experiences involve garnishment, which is a post-judgment remedy (at least in my home state of California). You can't be seriously suggesting that the right strategy here is to lose the case so you can beg the judge for a "deal," can you?

Get a clue folks and get some freaking legal representation. A skilled lawyer can give you some real advice, not amateurish gibberish. If you just can't bring yourself to hire a lawyer, go to the Nolo Press website where you can get real self-help forms and publications.

Good luck.

08-16-2008, 10:37 PM

BTW, why is this place suddenly so dead? A while ago not a single registered user was online, and right now there are just two.

alias1958 · 08-16-2008, 11:58 PM

Quote:

alias plainly stated that if you show the judge a budget he'll make the creditor accept payment arrangement.

Really?? Because it doesn't look to me like that is what I said.

Quote:

it's possible that he or she may just tell the creditor to work out payment arrangements with you

And I have NEVER advised anyone not to get a lawyer. If they want a lawyer and can afford one, I would CERTAINLY advise them to get one. However, the reason most people are here is because they are in serious debt already and can't AFFORD the high prices that you and other lawyers charge.

So why don't you just get off your high horse and go back to the beer that you claimed you were looking forward to earlier?

alias1958 · 08-16-2008, 11:59 PM

And you obviously haven't been trolling these boards and looking for members to trash for long, because it is usually pretty dead on the weekends, AND late at night.

alias1958 · 08-17-2008, 12:09 AM

By the way, WhatTheF, aka CalLawyer, if you are so concerned about people on this forum being given erroneous advice, why don't you become a member and help some of them out with some real legal advice? Or is the extent of your "free" advice to "get some freaking legal representation"? Because I can tell you, that advice is not going to help most of the people on this board, who come here because they are desperate, and who don't have money to PAY an attorney. If they did, they wouldn't be coming here to start with. And have YOU ever tried to hire a lawyer on a contingency basis? Because I have tried, and I know that others on this board have tried, and it's not easy.